|Focus on Legal Affairs
Home Inspections: Legal Hotline Answers FAQs
Home inspections are meant to increase a buyer’s knowledge about the property he or she is purchasing. They also give birth to contractual issues. This month, IAR Senior Staff Counsel Kelly Shonborn, answers some frequently asked questions she receives via the Legal Hotline.
As a reminder, the Legal Hotline is available to Principal and Managing Brokers of IAR membership, and their designated agents. There are three ways to get in touch with IAR attorneys:
· PHONE – 317.913.3254 or 800.444.5472 toll free
· ONLINE – Use this form
· FAX – 317.842.8494
|Focus on Advocacy
State Legislature Not In Session, Still At Work —
Summer Study Committees Address REALTOR® Issues
Indiana has a part-time legislature, but a great deal of heavy lifting is done via Summer Study Committees, which meet during months the legislature is not in session and are often used to flesh out complicated or controversial issues. Several issues of interest to the real estate industry have been on the agenda for summer study this summer and are likely to emerge again in the 2014 session of the General Assembly, which will convene in January. Click here to find out what your IAR government affairs staff has been monitoring.
Congressional Inaction Causes Partial Shutdown of Federal Government —
NAR Guides Members on What to Expect with Housing and Mortgage Programs
As you know, the federal government is partially shut down because members of Congress failed to approve a Continuing Resolution (CR) to fund most operations. The Office of Management and Budget, usually referred to just by its acronym of OMB, requires each agency of the federal government to have contingency plans for this very reason. National Association of REALTORS® staff has reviewed these plans and based on experience with past shutdowns and near-shutdowns, offers this guide on what members should expect when dealing with federal housing and mortgage programs until a CR is approved.
HUD Stop Implementation of Dual Agency Policy —
Action Highlights Importance of REALTOR® Advocacy
On October 1, the U.S. Department of Housing and Urban Development, more commonly known as HUD, was set to implement a policy to prevent dual agency agreements in pre-foreclosure transactions involving a mortgage insured by the Federal Housing Administration, or FHA. This policy was at the urging of HUD's Inspector General, who had detected fraud and abuse in the pre-foreclosure sales process.
IAR is pleased to inform you that HUD last week stopped implementation of this policy and announced it will reissue the July Mortgagee Letter (#2013-23) with all dual agency language removed (Part Three of the PFS Participation Requirements).
This action is a direct result of the REALTOR® organization at work. Because you voiced concerns via the IAR Legal Hotline – as did Broker members across the country to their state and local association staff – we were able to demonstrate a need for our National Association of REALTORS® staff to intervene, which they successfully did. Read why in this September 26 memo to all Broker licensees of IAR membership from General Counsel, Richelle Cohen Mossler.
Focus on Membership
IAR Board of Directors Election Concludes, Winners Announced—
Runoff Election In Progress Until Midnight EDT 10/4 for Representative of Small Boards
The election to fill vacancies on the IAR Board of Directors has concluded. The winners were announced at IndianaRealtors.com earlier in the week. As you’ll note from that webpage, there was a tie in the race for a representative of small local REALTOR® boards/associations. Appropriate local presidents-elect are now participating in a runoff election until Midnight EDT on October 4. The winner will be announced via the aforementioned webpage on Monday, October 7.
Kokomo’s Paul Wyman Selected State REALTOR® of the Year for 2013
Helman and Rhodes Bring Two of Five Good Neighbor Awards to Indiana —
This annual award recognizes a member of the Indiana Association of REALTORS® for their high level of professionalism, community service, and dedication to the REALTOR® organization. It is granted by a committee of IAR members from across the state that considers nominations by the 34 local REALTOR® associations in Indiana.
“We could easily hold Paul as the example for all real estate professionals to follow,” said Indianapolis’ Pat Williams, Chair of the IAR Recognition Committee and past association president. “While this year’s nominees were each worthy of the award, Paul stood out to the committee because he has served the profession, his clients and community consistently with excellence since the first day on the job. Furthermore, Paul is a dedicated family man and friend to so many in the real estate industry.”
Read the full press release here.
Rhodes Also Earns Members’ Choice/Web Choice Award
THEY WON! Both Bernice Helman of Coldwell Banker Troy Helman, REALTORS® in Terre Haute and Kristina Rhodes of F.C. Tucker Emge REALTORS® in Newburgh were this week named winners of REALTOR® Magazine’s Good Neighbor Awards, which recognizes REALTORS® who make an impact on their communities through volunteer work.
They’ll each get a $10,000 grant, be on the cover of the November/December issue of REALTOR® Magazine, and be honored during the REALTORS® Conference & Expo in San Francisco. If you’ll be at the conference and would like to attend the dinner in support of Bernice and Kristina, you can buy tickets here.
While Hoosiers are typically humble, we cannot help but mention that Bernice and Kristina’s achievement brings TWO of the FIVE Good Neighbor Awards to Indiana. Mark your calendar for May 16, the deadline to apply for a 2014 GNA. Maybe we can bring home three awards next year?!
Last, but not least: thank you! Your voting helped Kristina also win the Members’ Choice/Web Choice Award.
Click here for more on Bernice and Kristina’s volunteer efforts. Their individual stories may be accessed through the rotating content at the top of that webpage.
Focus on Education
Don’t miss the June 30, 2014 Broker Transition Deadline
There are a large number of salesperson licensees that still need to upgrade their license to broker status. The deadline to transition is June 30, 2014, but it is recommend salespersons move on this requirement as soon as possible.
RECP is now offering a live, three-day broker transition course at a variety of locations around the state and also online. The broker transition course fulfills a salesperson’s continuing education requirement during this transition period. As an added bonus, REALTOR® licensees who complete the course with RECP will earn 22 credits toward a Graduate, REALTOR® Institute (GRI) designation. Click here to register or call 800-742-4067 for more information.
Broker Price Opinion Resource (BPOR) certification core course
October 15, 2013
Indiana Real Estate Markets Report
2013 REALTORS® Conference & Expo
November 8-11, 2013More Info»
IAR Legislative Conference
January 27-28, 2013
JW Marriott Indianapolis & Indiana Statehouse
REALTOR® Professional Designation Days
February 25-27, 2014
Salesperson-to-Broker Transition Deadline
June 30, 2014
IRLA Class of 2013: Be Aware, Stay Safe This card is a gift from the members of the Indiana REALTORS® Leadership Academy (IRLA) Class of 2013 to their fellow REALTORS®. Print a copy and carry with you as a reminder to be aware and stay safe on the job. The card lives on a new webpage, IARSafety.Net, which is also a gift from the IRLA Class of 2013 and houses a number of resources to help you increase your awareness and learn how to protect yourself and your clients.
zipLogix Digital Ink® Update
Users have access to new features including signature preview, PDF delivery format and auto dating of the signature. Learn more here.
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